The retailer’s e-commerce sales have continued to soar amid the global Coronavirus pandemic, significantly helping their overall performance.
Walmart Inc. has reported a net income of $5.14bn or $1.80 per share, an increase from the same period last year which saw a net income of $3.23bn or $1.15 per share. Revenue has risen 5.2 per cent to $134.71bn and same-store sales across the US have also risen 6.4 per cent which is much higher than expected.
Walmart have also seen a huge surge in their e-commerce sales for the third quarter, increasing as much as 79 per cent with the pickup and delivery service continues to experience record high sales volumes.
Chief Executive Officer of Walmart, Doug McMillon commented: “We’re convinced that most of the behaviour change will persist beyond the pandemic and that our combination of strong stores and emerging digital capabilities will be a winning formula.”
